New Mexico Statutes Chapter 21. State and Private Education Institutions § 21-21-25. Collection of student loans; contracts authorized

The board of educational finance [commission on higher education [higher education department]] may contract with one or more attorneys or law firms or with any other private business concern to assist the board [commission [department]] in collecting any defaulted loan made pursuant to the Student Loan Act or the Student Loan Guarantee Act. No contract shall be entered into pursuant to this section unless proposals have been sought from two or more qualified firms.